Ulster Carpets Purchases Griffith Textile Machines
Ulster Carpets is pleased to announce the acquisition of Griffith Textile Machines. The purchase of the premier UK manufacturer of textile machinery consolidates a long-standing relationship between the two companies.
GTM, formerly known as Bonas Griffith, is a leading innovator of technical textile machinery based in Sunderland. Combining their unique skills with Ulster’s weaving experience will lead to further significant improvements in carpet weaving technology.
This acquisition begins the second phase of the £35million regeneration of all woven manufacturing facilities at Ulster’s Portadown site. Phase one was the recent completion of a £8 million Dye house and Energy centre increasing manufacturing efficiency as well as bringing a number of major environmental benefits. This regeneration project will ensure that manufacturing remains in Portadown long term, securing employment for the local area.
Working alongside the excellent management team and employees of GTM, Ulster is committed to enabling their continued growth and further developing new and exciting technology in the textile sector.
David Acheson, Ulster’s Head of Strategic Operations commented, “Ulster’s ethos and future plans very much revolve around quality, design excellence and technical innovation, and Griffith Textile Machines fits this perfectly. We are delighted to have secured this purchase and are excited about the future prospects as the two businesses combine their skills.”
Dave Watson, GTM’s Managing Director comments “with our shared strategic objectives and being such a clear fit, joining the Ulster Group was an obvious next step for both parties. We are thrilled with the rare opportunity to focus on developing innovative solutions based on our joint peerless technology. Joining the Ulster Group is the culmination of a twenty five year business relationship and will encourage GTM to achieve its maximum potential to the benefit the group.
The acquisition is being funded from cash reserves and reflects Ulster’s desire to continue to broaden the Group by selectively adding outstanding businesses when and where the appropriate opportunity arises.